CMC Markets vs City Index Comparison
We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare CMC Markets vs City Index.
Can I trust CMC Markets?
CMC Markets is publicly traded, does not operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). CMC Markets is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).
Can I trust City Index?
City Index is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Rier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). City Index is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.
Is CMC Markets good?
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
Is City Index good?
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
What is the minimum deposit requirement for opening an account with CMC Markets?
To open a trading account with CMC Markets, you'll need to make an initial minimum deposit of $0.
What is the minimum deposit requirement for opening an account with City Index?
City Index requires a minimum deposit of £100.00 before you can open an account and start trading.
What funding options does each broker offer?
It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both CMC Markets and City Index offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
Does CMC Markets or City Index offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that CMC Markets offers better pricing overall for traders.
Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.
Is CMC Markets or City Index safer for forex and CFDs trading?
At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that City Index holds 7 global Tier-1 licenses, while CMC Markets holds 5. Both CMC Markets and City Index hold 1 global Tier-2 licenses.
After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that CMC Markets and City Index have earned the same Trust Score (99).
Which trading platform is better: CMC Markets or City Index?
To compare the trading platforms of both CMC Markets and City Index, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, CMC Markets offers a better experience. With research, CMC Markets offers superior market research. Finally, we found CMC Markets to provide better mobile trading apps.
Here’s what trading platforms are available at CMC Markets:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - No
- ZuluTrade - No
- TradingView - No
Here’s what trading platforms are available at City Index:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - No
- ZuluTrade - No
- TradingView - Yes
What about MetaTrader? How about copy trading?
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both CMC Markets and City Index offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. CMC Markets and City Index both offer copy trading.
What can I trade with each broker?
CMC Markets provides traders 156 currency pairs (e.g., EUR/USD) compared to City Index's 84 available pairs. If you are interested in trading a full range of securities, City Index offers traders access to 13500 tradeable symbols, while CMC Markets offers access to 11925 tradeable symbols; so City Index offers 1575 more tradeable symbols than CMC Markets.
We found in our testing that City Index offers a more diverse selection of investment options than CMC Markets, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Cryptocurrency (Physical).
Overall winner: CMC Markets
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.